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They make stoma bags, which is what you get given if some of your intestines are surgically removed or temporarily out of order. Continence care is a large part of their sales as well as making the parts that surgeons use to fix the problem.

What is much more elegant and easy to talk about is their profit margins, which have been wonderfully constant up until now. Although this does not guarantee future success, the fact is that Coloplast are price setters. That’s what a constant profit margin as a percentage of sales implies. Would you quibble about the price of your stoma bag or would you try switching to test a new and cheaper product when your existing one works well? Probably not.

7% annual sales growth over the past decade is not to be sniffed at either. Success here is driven by the close relationship that Coloplast develop with the medical fraternity. Head to Copenhagen if you want to trade the shares, although you might wait until the capital markets day in September to get a better grip on the company’s future strategy in light of the dampening effect that Covid-19 has had on elective surgery.

Understanding Finance

Helping clients understand what we do is key to building relationships. To explain some of the industry jargon that creeps into our world, we’ve pulled together a section of our site to help.

Managing your wealth

Managing your wealth